Which of the following is an accurate statement about a monopolistically competitive firm?
a. It uses ads to sell as much of a product as competitors do at the going price.
b. It uses ads to continue selling a product even with decreasing prices.
c. It uses ads to sell a product even with an expected price increase.
d. It uses ads to sell more of a product than competitors do at the going price.
d. It uses ads to sell more of a product than competitors do at the going price.
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When a central bank makes joint decisions with the government's Treasury department,
A) the central bank is asserting its independence. B) the government loses its ability to conduct fiscal policy. C) the central bank risks losing credibility. D) the government enhances its credibility.
The largest U.S. economic expansion between 1890 and the present occurred during which of the following events?
a. The Railroad Prosperity b. World War II c. The Great Tuna Boom d. The OPEC Prosperity of 1974
In short-run equilibrium for a competitive firm:
A. price will not equal marginal revenue. B. marginal revenue will be greater than marginal cost. C. price will equal marginal cost. D. price will be greater than marginal cost.
Dissaving occurs when:
A. Income is greater than saving B. Income is less than consumption C. Saving is greater than consumption D. Saving is greater than the interest rate